May 04 2021 - Statement of Accounts
STATEMENT OF ACCOUNTS
01 APRIL 2020 TO 31 MARCH 2021 1. INCOME
i. Banked income £63,588.39 (a)
NB: Does not include internal bank transfers
ii. Banked Income Source (Main PC Account)
INCOME ITEM
AMOUNT
Precept
£25,120.00
HMRC VAT Reclaim
£31,439.38
HMRC Employee Grants
£ 882.65
Hub Revenue
£ 2,064.05
Hub hirer Electricity reclaim
£ 585.00
Hub Rebuild reclaim
£ 106.34
Hub hirer build reclaim
£ 895.00
Grants (General)
£ 1,194.55
Fundraising
£ 176.42
Nocton 200
£ 1,100.00
Miscellaneous
£ 25.00
TOTAL £63,588.39
iii. ACCOUNTS (see annex)
Income £60,478.71
Hub Income £ 2,064.05
Fundraising £ 150.63 Hirer build reclaim £ 895.00
TOTAL £63,588.39 (b)
DIFFERENCE (between a and b) £ 0.00
iv. Banked Income Source (Business Reserve PC Account)
Income from INTEREST ON BANK ACCOUNT:
Months quarter
Amount
April 2020 to June 2020
£ 6.86
July to September 2020
£ 4.70
October to December 2020
£ 0.98
January 2021 to March 2021
£ 0.79
TOTAL
£13.33
2. EXPENDITURE
i. Expenditure through the main
PC Treasurers bank account (NB: Does not include internal bank transfers) £78,491.61 (a)
ii. ACCOUNTS Expenditure detail (as shown in the accounts)
These are based on the accounts of the previous clerk with some amendments due to calculation errors, budget errors and description errors.
BUDGET TYPE
Actual
Budget
Difference
Clerk Salary
£ 7,186.12
£ 4,795.00
-£2,391.12
Clerk Office
£ 180.00
£ 180.00
£ 0.00
Clerk Expenses
£ 345.49
£ 200.00
-£ 145.49
Village Keeper salary
£ 4,490.00
£ 4,480.00
-£ 10.00
IT Costs
£ 408.63
£ 120.00
-£ 288.63
Payroll
£ 100.00
£ 120.00
£ 20.00
Audit
£ 1,550.00
£ 450.00
-£1,100.00
Insurance
£ 957.70
£ 320.00
-£ 637.70
ICO
£ 35.00
£ 35.00
-£ 0.00
Streetlights electric
£ 527.01
£ 450.00
-£ 77.01
Streetlights maintenance
£ 673.64
£ 350.00
-£ 323.64
Subscriptions
£ 340.96
£ 250.00
-£ 90.96
Training
£ 105.00
£ 50.00
-£ 55.00
Village maintenance
£ 224.42
£ 250.00
£ 25.58
Remembrance Wreath
£ 20.00
£ 20.00
£ 0.00
PWLB repayments
£ 16,787.26
£ 16,600.00
-£ 187.26
Rent builders yard
£ 78.00
£ 100.00
-£ 22.00
Contingency
£ 37.87
£ -
-£ 37.87
New Build Sundry - PC
£ 3,596.85
£ 100.00
-£3,496.85
OPERATIONAL EXPENDITURE
£ 37,643.95
£ 28,870.00
-£8,773.95
iii. PARISH COUNCIL EXPENDITURE ACCOUNTS
ITEM
AMOUNT
Parish Council Operational Expenditure (net VAT)
£37,643.95
VAT on general applicable expenditure
£17,570.39
HUB Building Costs – extra to main build
£17,895.00
HUB Expenditure
£ 5,016.87
TOTAL
£78,126.21
iv. DIFFERENCE BETWEEN EXPENDITURE IN BANK AND THE ACCOUNTS
ITEM
AMOUNT
Bank Account expenditure
£78,491.61
Parish Council Accounts
£78,126.21
DIFFERENCE
£ 365.40
3. RECONCILLIATION BETWEEN INCOME AND EXPENDITURE
FINANCIAL MOVEMENT
AMOUNT
AMOUNT TOTALS
Income (Main PC Bank Account)
£63,588.39
Income (Business Reserve Account)
£ 13.33
INCOME TOTAL
£63,601.72
EXPENDITURE TOTAL
(£78,491.61)
DIFFERENCE
(£14,889.89)
4. BANK RECONCILIATIONS
Bank Account
Opening Balance 01 April 2020
Closing Balance 31 March 2021
Funds
Movement
NPC Main Current Account
£11,440.28
£3,891.66
£7,548.62
NPC Business Account
£31,784.19
£24,442.92
£7,341.27
Funds Total
£43,224.47
£28,334.58
£14,889.89
5. CONCLUSION OF MAIN ACCOUNTS:
Main points:
i. As at the 31 March 2021, the Parish Council had £28,334.58 in the bank account. This is the equivalent of 112% of the Precept for the period of 2020-21.
ii. The budget was overspent by £8,773.95 – which was equivalent of 30.39% of the initial budget
iii. The main overspend budget lines were:
- Hub Build overspend £3,496.85
- Clerking salary £2,391.12
- Audit £1,100.00
TOTAL £6,887.97 or 79% of the total overspend
iv. There was £365.40 variance between the bank and the accounts
6. HUB FINANCIAL DETAILS
i. October 2020 to March 2021
Financial details
Item
Amounts
Income
Hub Revenue
£ 2,064.05
Hub Electric reclaim
£ 585.00
Expenditure
(£5,016.87)
DIFFERENCE
(£2,367.82)
7. ANNEX
i. Bank Statements for NPC Treasurer Account
ii. Bank Statements for NPR Business Account
iii. NPC monthly accounts (majority completed by previous clerk)
iv. Income detail: Fundraising and HUB revenue income
NOCTON PARISH COUNCIL
Clerk to the Parish: Mr S R Baxter JP MIFA ADPS ADIP Email: clerk@noctonparishcouncil.gov.uk Tel: 0781 444 3058